Sensex falls 216 pts, Nifty below 18,600 on RBI's moderately hawkish policy
CLOSING BELL: The central bank increased repo rate by 35 basis points and lowered GDP growth forecast for FY23 to 6.8 per cent as it remained cautious of a sticky core inflation amid global turmoil
3:34 PM
CLOSING BELL:: Nifty 50 ends at 18,561, down 82 points
3:33 PM
CLOSING BELL:: S&P BSE Sensex ends 215 points lower at 62,411
3:24 PM
Global Check:: US, UK stock futures marginally in red
Source: Investing.com
3:16 PM
RBI MPC: How central bank's stance on GDP, inflation changed in 2022
The RBI MPC cut down the Gross Domestic Product (GDP) growth projection for FY23 from 7 per cent in the September announcement to 6.8 per cent. READ MORE
3:07 PM
Asian stocks lower as China 'drastically' scales back zero-Covid curbs
Shares fell in Asia on Wednesday with Hong Kong's benchmark down more than 2% even as Beijing announced it was drastically scaling back its zero-COVID" policies, shifting away from trying to isolate every single case. READ MORE
2:59 PM
BSE 500:: Hikal, NLC India, RCF soar up 10% from day's lows
Hikal has zoomed over 10 cent from its low of the day so far. Among others in the BSE 500, NLC India, RCF, Central Bank and Brightcom Group had rallied over 5 per cent each from their respective lows of the day. VIEW MORE
2:51 PM
Market Check:: BSE FMCG index up over 1%; Guj Ambuja Exports soars 8%
2:43 PM
RBI MPC:: Here is what experts have to say about the policy announcement
Despite some signs of moderation, RBI Governor Shaktikanta Das said the main risk was that inflation would remain sticky and elevated. View Expert Comments here. READ MORE
2:35 PM
ALERT :: Sobha falls over 2% amid reports of money laundering allegations
>> TV reports suggest Enforcement Directorate has attached Sobha’s fresh assets worth Rs 201 crore under PMLA
>> Total ssets under ED radar worth Rs 300 crore
>> Sobha allegedly sold plots meant for ‘no profit no loss' at exorbitant market prices
>> Case based on Haryana Police;s FIR on violation of town planning rules
>> Total ssets under ED radar worth Rs 300 crore
>> Sobha allegedly sold plots meant for ‘no profit no loss' at exorbitant market prices
>> Case based on Haryana Police;s FIR on violation of town planning rules
2:31 PM
BSE 500:: Strides, Punjab & Sind Bank lose notable ground from day's high
Punjab & Sind Bank has shed over 6 cent from its high of the day so far. Among others in the BSE 500, Swan Energy, Strides Pharma, Suzlon Energy and Rajesh Exports too were down more than 4 per cent from their respective highs of the day. VIEW MORE
2:23 PM
RBI Policy view:: RBI's stance implies future rate hike possible
"RBI's decision to increase the repo rate by 35 bps is along expected lines. Markets were expecting a slight moderation in the stance, but RBI has retained the stance as 'withdrawal of accommodation'. This implies that RBI can deliver further rate hike as the Central Bank is emphasising on containing inflation below the target rate."
- Mini Nair, CFO of Geojit Financial Services
2:14 PM
Star Housing Finance shareholers nod for bonus-cum-stock split plan; stock up 2%
The shareholders of Star Housing Finance approved the bonus issue of shares in the ratio of 1:1, and stock split in the ratio of 1:2.
2:01 PM
BSE 500:: Oberoi Realty, Suzlon, Rajesh Exports among top losers
Oberoi Realty down 3.7 per cent was the top loser among the BSE 500 stocks. Suzlon Energy, Kalyan Jewellers, Punjab & Sind Bank and Rajesh Exports, down ovre 3 per cent each were the other significant losers so far on Wednesday. VIEW MORE
1:52 PM
RBI Policy View: RBI policy seen aligned with global banker
"Fed has already communicated last week that it would now follow a balanced approach between containing inflation and fostering growth. This is an indication that we might be nearing the rate hike cycle. With RBI also now choosing to moderate the rate hike from 50 bps to 35 bps, it is a clear signal that India's central bank is aligned to its global counterparts. This gives India Inc and its capital markets a strong foundation to plan the capex cycle which is critical for ushering into the next phase of growth".
- Rohin Agarwal, Vice President at Avener Capital
1:45 PM
Global Check:: Asian markets mostly down; Hang Seng slumps 3%
Source: Yahoo Finance
Topics : Stock Market MARKET LIVE MARKET WRAP Markets S&P BSE Sensex NSE Nifty stock market trading RBI monetary policy RBI Policy RBI repo rate HDFC AMC Siemens Financials Nifty Realty Shaktikanta Das
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First Published: Dec 07 2022 | 8:06 AM IST